The company supplies a broad range of texture solutions for food, including customized combinations of texture ingredients with a particular emphasis on potato starches.

Its starch-based products for non-food applications include sustainable, nature-based solutions designed to replace synthetic ingredients.

With approximately 445 employees, Penford operates six plants in the US, all of which make specialty starches.

“The transaction is expected to generate annual cost synergies of at least US$20 million, primarily from efficiencies in the areas of manufacturing, procurement, logistics and general and administrative functions,” said Gordan.